AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update

NEW YORK, Aug. 26, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of July 31, 2024.

AllianceBernstein National Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings		Portfolio %
1) Lamar Consolidated Independent School District Series 2024-2 5.00%, 02/15/53		2.72 %
2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46		2.69 %
3) Prosper Independent School District Series 2024 4.00%, 02/15/54		2.45 %
4) Greenwood Independent School District Series 2024 4.00%, 02/15/54		2.30 %
5) Melissa Independent School District Series 2024-2 4.25%, 02/01/53		2.16 %
6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54		1.96 %
7) City of New York NY Series 2023 4.125%, 08/01/53		1.88 %
8) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38		1.88 %
9) Denton Independent School District Series 2024-2 5.00%, 08/15/48		1.84 %
10) Commonwealth of Massachusetts Series 2024-2 5.00%, 05/01/53		1.82 %
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		11.69 %
Prepay Energy		7.34 %
Revenue - Miscellaneous		6.05 %
Airport		4.84 %
Toll Roads/Transit		3.29 %
Industrial Development - Industry		3.14 %
Electric Utility		3.12 %
Higher Education - Private		2.31 %
Tobacco Securitization		1.89 %
Water & Sewer		1.83 %
Industrial Development - Airline		1.76 %
Port		1.53 %
Primary/Secondary Ed. - Public		1.33 %
Senior Living		0.61 %
Industrial Development - Utility		0.52 %
SUBTOTAL		51.25 %
Tax Supported
Local G.O.		15.77 %
State G.O.		7.25 %
Special Tax		5.43 %
State Lease		0.57 %
Assessment District		0.18 %
SUBTOTAL		29.20 %
Guaranteed		15.57 %
Prerefunded/ETM		2.22 %
Cash & Cash Equivalents
Funds and Investment Trusts		0.99 %
SUBTOTAL		0.99 %
Asset-Backed
Housing - Multi-Family		0.77 %
SUBTOTAL		0.77 %
Total		100.00 %
State Breakdown		Portfolio %
Texas		18.42 %
Illinois		9.07 %
New York		7.29 %
Michigan		6.77 %
California		5.54 %
Florida		5.05 %
Wisconsin		4.86 %
South Carolina		3.90 %
Massachusetts		3.71 %
Pennsylvania		3.49 %
New Jersey		3.32 %
Louisiana		2.84 %
Colorado		2.34 %
Georgia		2.19 %
Arizona		2.00 %
Ohio		1.92 %
Washington		1.90 %
Nevada		1.80 %
Nebraska		1.62 %
Alabama		1.47 %
Oklahoma		1.21 %
Minnesota		1.14 %
Iowa		0.90 %
Virginia		0.88 %
Utah		0.78 %
North Carolina		0.76 %
West Virginia		0.67 %
New Hampshire		0.63 %
Indiana		0.50 %
North Dakota		0.43 %
Maryland		0.37 %
Arkansas		0.34 %
Oregon		0.22 %
Connecticut		0.19 %
Alaska		0.18 %
South Dakota		0.14 %
Puerto Rico		0.10 %
Tennessee		0.07 %
Other		0.99 %
Total Investments		100.00 %
Credit Quality Breakdown		Portfolio %
AAA		18.88 %
AA		27.95 %
A		28.01 %
BBB		17.65 %
BB		2.80 %
B		0.14 %
CCC		0.11 %
D		0.18 %
Not Rated		1.07 %
Pre-refunded Bonds		2.22 %
Short Term Investments		0.99 %
Total		100.00 %
Bonds by Maturity		Portfolio %
Less than 1 Year		3.38 %
1 To 5 Years		2.44 %
5 To 10 Years		4.17 %
10 To 20 Years		20.15 %
20 To 30 Years		56.67 %
More than 30 Years		13.19 %
Other		0.00 %
Total Net Assets		100.00 %
Portfolio Statistics:
AMT Percent:		10.23 %
Average Coupon:		4.54 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		0.25 %
VRDP Shares:		16.90 %
Tender Option Bonds:		7.51 %
VMTP Shares:		14.92 %
Total Fund Leverage:		39.58%*
Average Maturity:		10.52 Years
Effective Duration:		8.14 Years
Total Net Assets:		$363.57 Million**
Common Stock Net Asset Value:		$12.65
Total Number of Holdings:		158
Portfolio Turnover:		55.00 %

* The total percentage of leverage constitutes 7.51% through the use of tender option bonds, 14.92% in issued and outstanding VMTPs, 16.90% in issued and outstanding VRDPs and 0.25% in investment operations, which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.

** The Fund also had outstanding $88,275,000 of VMTPs at liquidation value, which is not included in Total Net Assets because it is treated as a liability for financial reporting purposes.

** The Fund also had outstanding $100,000,000 of VRDPs at liquidation value, which is not included in Total Net Assets because it is treated as a liability for financial reporting purposes.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

 

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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